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some analysts say opec could consider cutting output. here is a check on markets. >>> nhk special coverage japan general election is a click away. we'll be adding features to our web and mobile sites. in-depth looks on what could define the campaign. get online and get informed. >>> delegates from more than 100 countries noticed them as legitimate people. barack obama did the same thing a day earlier. the de the delegates met in morocco, the so-called friends of syria from the u.s., european union, and various arab countries. more than 50 opposition groups formed the coalition last month. the friends of syria say the organization is now the lawful government. they say president bashar assad should step down. delegates did not state whether they would provide weapons to the coalition. some are concerned that those weapons could fall into the hands of radicals. a spokesperson said that they believe their allies will help arm them if the situation changes. the leaders of russia and china continue to support the assad government. delegates f
some analysts say opec could consider cutting output. here is a check on markets. >>> nhk special coverage japan general election is a click away. we'll be adding features to our web and mobile sites. in-depth looks on what could define the campaign. get online and get informed. >>> delegates from more than 100 countries noticed them as legitimate people. barack obama did the same thing a day earlier. the de the delegates met in morocco, the so-called friends of syria from the...
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Dec 11, 2012
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that's just about where opec members want them. opec will be meeting tomorrow to see who will publicly lead the group. joining us for , zendana hari. good morning. what are your expectations for this meeting? >> we aren't expecting any major surprises so far based on what the ministers coming into the meeting have been saying publicly and even privately. officially, opec will stick to its 30 million a day barrel target. that covers all the members of the group. that would be actually production has been consistently higher ever since this target wab set. almost 1.1 million barrels above the target is what opec has cut into producing. >> heading into a meeting like this, incident isn't just about the supply, it's about demand. we've seen some softening in global production. how much will these countries have to produce next year? is it going to be a demand story ultimately as we look at global growth or is it going to be a supply story, about the middle east and where the flow is actually coming from? >> i think it will be a supply
that's just about where opec members want them. opec will be meeting tomorrow to see who will publicly lead the group. joining us for , zendana hari. good morning. what are your expectations for this meeting? >> we aren't expecting any major surprises so far based on what the ministers coming into the meeting have been saying publicly and even privately. officially, opec will stick to its 30 million a day barrel target. that covers all the members of the group. that would be actually...
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as well as the unrest here in kuwait of course as an opec member any sort of unrest on the streets is bound to have some sort of impact on oil prices as well as the pentagon's plans to use the oil rich nation as a hub for its get ground forces in order to build up a countering force to the perceived threats by iran of course kuwait is home to three u.s. military bases watching the stats increase in numbers here with all of the main withdrawal from afghanistan a closer look this is what you see captain of r t two eight. meanwhile protesters are rallying in egypt against what they call an oppressive regime firing to stop a new constitution seen as undermining democratic freedoms the draft was hastily. approved by the by an islamist dominated assembly on friday which added fuel to the political crisis sparked last week when president morsi ashamed sweeping new powers journalist truly explains why protest is are opposing the draft so strongly they say is that a first of all it's drafted by islamist dominated assembly it doesn't represent egypt on top of that of course is the sharia law an
as well as the unrest here in kuwait of course as an opec member any sort of unrest on the streets is bound to have some sort of impact on oil prices as well as the pentagon's plans to use the oil rich nation as a hub for its get ground forces in order to build up a countering force to the perceived threats by iran of course kuwait is home to three u.s. military bases watching the stats increase in numbers here with all of the main withdrawal from afghanistan a closer look this is what you see...
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Dec 4, 2012
12/12
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and i think opec has apparently been able to manage that but i think on its own, opec is unable to maintain that price if there are real pressures on the demand side. so i think the fact that we've had relative stability around 100, 110 dollars brent is a testimony not only for opec's ability to manage the price, which sink marginal, but a confluence of interests at the moment between both producers and suppliers that this meets somewhere fairly in the middle. >> peter, we've been fairly volatile. a lot of that's down it tto the o geopolitics. and i assume that's the wide card still into 2013. >> iran will be feeling vulnerable. the fact is that over the last few months, it is now producing less than iraq and i think that will increase the feeling of sensitivity on the part of iran. highlighted the threat of instability because it really hasn't got the influence of volume control, so it has to be three more public statements and issues like that. and it tends to put things in the market when there is need for a proos supporice support. >> all right. thanks for that, peter. swiss government
and i think opec has apparently been able to manage that but i think on its own, opec is unable to maintain that price if there are real pressures on the demand side. so i think the fact that we've had relative stability around 100, 110 dollars brent is a testimony not only for opec's ability to manage the price, which sink marginal, but a confluence of interests at the moment between both producers and suppliers that this meets somewhere fairly in the middle. >> peter, we've been fairly...
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heavy hand now what happens here in kuwait has implications far beyond the country's borders as an opec member any sort of on a rest is bound to have an effect on world oil prices the country also serves as a hub for the pentagon's ground forces with thousands of american combat troops stationed here as a military counterweight to iran now the gulf monarchies as a whole have been struggling to stave off the effects of the arab spring with varying degrees of success kuwait has largely seen as the most tolerant of the countries but the worry here is that the trend could be reversed over the past few months the country has seen increasingly violent escalating protests between the opposition and security forces with the latter using tear gas stun grenades and rubber bullets to disperse crowds political parties are banned as are political gatherings of more than twenty people and activists are claiming of a clamp down against dissent here in this country authorities did allow thousands of opposition demonstrators to gather in a largely peaceful rally on. friday of course the coming weeks are
heavy hand now what happens here in kuwait has implications far beyond the country's borders as an opec member any sort of on a rest is bound to have an effect on world oil prices the country also serves as a hub for the pentagon's ground forces with thousands of american combat troops stationed here as a military counterweight to iran now the gulf monarchies as a whole have been struggling to stave off the effects of the arab spring with varying degrees of success kuwait has largely seen as...
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respond with a heavy hand course what happens here has implications far beyond kuwait's borders as an opec member any sort of unrest is bound to affect oil markets the country is also a hub for the pentagon's ground forces with thousands upon back troops stationed here as a military counterweight to iran now the gulf monarchies have been struggling to fend off possible instability from the arab spring with varying degrees of success kuwait is largely seen as the most tolerant of the countries in this region but the worry is of course that the trend could be reversed recent months have seen as fleeting clashes between a position groups and security forces who have used tear gas stun grenades and rubber bullets to disperse crowds of political gatherings of more than twenty people have been banned and activists are complaining of the clampdown against the center authorities and did allow thousands of protesters to gather for a peaceful rally on friday but the worry is. but the next few weeks are bound to test the limits of the government's tolerance as well as the self-control displayed by th
respond with a heavy hand course what happens here has implications far beyond kuwait's borders as an opec member any sort of unrest is bound to affect oil markets the country is also a hub for the pentagon's ground forces with thousands upon back troops stationed here as a military counterweight to iran now the gulf monarchies have been struggling to fend off possible instability from the arab spring with varying degrees of success kuwait is largely seen as the most tolerant of the countries...
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Dec 12, 2012
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and the saudis don't want an iranian in charge of opec. the saudis have had to put forward their own man, as well, to replace him. is there going to be a delay? i spoke toal badri. listen to what he had to say about that and oil prices. >> do not jump to conclusion. let us -- let us hear what the conference will say. >> in terms of the oil price, sir. appears ostensibly everyone's happy with the current price. would you say the storm clouds are brewing in terms of levels of inventories, the amount of supply needed from opec compared to what it's currently pumping? >> when you look at the political situation, the situation in the united states, the fiscal cliff, you look at a lot of factors, there are really -- they contradict each other. i don't know where the price will go up or go down. i think the price will stay the same for next year. i don't think the price will come down. yes, there is some -- maybe 59, maybe 30 million dollars day, five-year average. and that's 30 million barrel only, the five-year average, as far as the stock is c
and the saudis don't want an iranian in charge of opec. the saudis have had to put forward their own man, as well, to replace him. is there going to be a delay? i spoke toal badri. listen to what he had to say about that and oil prices. >> do not jump to conclusion. let us -- let us hear what the conference will say. >> in terms of the oil price, sir. appears ostensibly everyone's happy with the current price. would you say the storm clouds are brewing in terms of levels of...
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Dec 28, 2012
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at the moment, really we've got to see what opec wants to do. last year, the impact of the embargo wasn't -- was like a six week impact and it was forgotten about very quickly. and if you think about it, last year was a very, very steady year for oil prices. wti, as you said, is going to post the lowest rise in several years. in fact, i looked back in my forecast that i had for wti at the beginning of 2012. and it was $111 $a barrel. i moved it down to $110 in the middle of the year thinking it might get a little weaker and poked around and did absolutely nothing. >> i wonder whether the question is going to come back again into the oil markets given that we're looking at the israeli elections coming up in january. but back to the u.s. story, i find it hugely interesting, this notion of u.s. becoming energy independent on its own. do you really think it will happen? because i still talk to a couple of people in the oim and gas industry that say, you know what? it's a far cry from the reality out there. we're still going to see the middle east be
at the moment, really we've got to see what opec wants to do. last year, the impact of the embargo wasn't -- was like a six week impact and it was forgotten about very quickly. and if you think about it, last year was a very, very steady year for oil prices. wti, as you said, is going to post the lowest rise in several years. in fact, i looked back in my forecast that i had for wti at the beginning of 2012. and it was $111 $a barrel. i moved it down to $110 in the middle of the year thinking it...
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Dec 10, 2012
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just how china comes into play here or sometimes even some of the middle eastern partners are where opec comes in and start to address crisis or supply in particular or technically how the market trades itself around that band. there was never really a premise to where people were looking for that to exceed 27 or '8, it started getting into the 30 level because of fundamental breakdowns. and i think that's the reason why a lot of people are starting to look at the historics to see if we hit that moving average which is much lower. >> michael gur ka from spectrum asset management, thank you so much. and thank you, everyone, for tuning into the show. i'm kelly evans. ross westgate will be back here tomorrow morning. now it's time for "squawk box" in the u.s. we'll keep an eye on the markets. have a great day. >>> good morning. president obama and john boehner meet face-to-face on sunday. does it mean we're any closer to the solution to the fiscal cliff? >>> a news conference by chairman ben bernanke, set for wednesday.
just how china comes into play here or sometimes even some of the middle eastern partners are where opec comes in and start to address crisis or supply in particular or technically how the market trades itself around that band. there was never really a premise to where people were looking for that to exceed 27 or '8, it started getting into the 30 level because of fundamental breakdowns. and i think that's the reason why a lot of people are starting to look at the historics to see if we hit...
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Dec 13, 2012
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. >> and in just the last few minutes, the opec secretary said he doesn't see any threat from u.s. shale product, this after the uae minister has suggested a response from the oil ministers in vienna. gary ross, welcome. >> nice to be here. >> the shale revolution in the u.s., is it a game changer as much as we're hearing from jamie dimon, arcelormittal? do you think this is going to make the u.s. energy independent, almost? >> well, we think it is. it's huge. we've statemented about 11110 billion pounds of recovery oil from shale crude. u.s. product will be going up overall, about a million barrels a day in 2013. about 65% of it will be shale crude. and it will continue to grow. >> people should understand we're not just talking about gas. we're talking about methods that's right.extract more oil. gas is clearly surplus. we're going to have l&g exports in the united states. we have a long-term growth phenomenon for natural gas. what people don't realize is how huge the oil is. when we talk about $110 billion of recovered oil, that's on 7.5% recovery rate. the resource itself is hu
. >> and in just the last few minutes, the opec secretary said he doesn't see any threat from u.s. shale product, this after the uae minister has suggested a response from the oil ministers in vienna. gary ross, welcome. >> nice to be here. >> the shale revolution in the u.s., is it a game changer as much as we're hearing from jamie dimon, arcelormittal? do you think this is going to make the u.s. energy independent, almost? >> well, we think it is. it's huge. we've...
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Dec 7, 2012
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also what's going to happen with the fed meeting and an opec meeting on wednesday. back to you. >> sharon, thank you so much for that. bob pisani is here at post 9. i'm sure you're going to talk about market action as it relates to what the speaker said a few moments ago. >> did you watch john boehner the speaker of the house? normally coolool and collected. looking a littles by frustrated. two-sentence answers. a little unusual for the speaker of the house and sort of very brusque and basically walked off on the press conference very quickly. good reason to be frustrated. let me give you some of the highlights of what a lot of people are talking about here. forget everything. don't go over the fiscal cliff but pass a simple tax bill. what would it entail? expend the tax cuts to those making under $250,000. increase taxes on dividends and capital gains to 23.6%. number three, know estate tax, payroll tax cut, unemployment benefits extension. basically strip everything out. no delay in sequestration. does this look like it would satisfy wall street? i don't think so.
also what's going to happen with the fed meeting and an opec meeting on wednesday. back to you. >> sharon, thank you so much for that. bob pisani is here at post 9. i'm sure you're going to talk about market action as it relates to what the speaker said a few moments ago. >> did you watch john boehner the speaker of the house? normally coolool and collected. looking a littles by frustrated. two-sentence answers. a little unusual for the speaker of the house and sort of very brusque...
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Dec 12, 2012
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out of this debt number three on the list is opec. opec is an entity. that's the countries of ecuador and venezuela and india and bahrain and iran and iraq and kuwait and amman and qatar and saudi arabia and the u.a.e., algeria, ga been a, -- gabon, nigeria. they're now number three on the list and they own $267 billion of our debt. brazil comes in at number four, $250.5 billion. and then number five on the list, new to the list, the top five list, the caribbean banking centers. now own $240.4 billion of u.s. debt. by the way, caribbean banking centers are the bahamas, bermuda, cayman islands, netherlands and panama. this is who owns us. this is who owns our debt. and this is why on this side of the aisle, what we continue to say is the spending has to be dealt with. we have seen -- we've heard from everybody. we are hearing from economists all around the globe. and they repeatedly say what we are saying, what we've been saying for years as week of come to this floor. is that we have a spending problem. the spending has to be dealt with. we are drowning
out of this debt number three on the list is opec. opec is an entity. that's the countries of ecuador and venezuela and india and bahrain and iran and iraq and kuwait and amman and qatar and saudi arabia and the u.a.e., algeria, ga been a, -- gabon, nigeria. they're now number three on the list and they own $267 billion of our debt. brazil comes in at number four, $250.5 billion. and then number five on the list, new to the list, the top five list, the caribbean banking centers. now own $240.4...
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Dec 11, 2012
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but we're also waiting to see what happens in vienna with the opec meeting. in addition to the fed that comes out tomorrow. the expectation is, that opec will leave their current quota unchanged, around 30 million barrels per day. the actual production, around 31 million barrels a day. there may not be any change to that. the key will be what happens in terms of the election of a new secretary-general and saudi arabia in the running for that as well. back to you. >> thanks very much, sharon epperson. i did want to look at shares of largest for-profit hospital in the country. a secondary offering this morning. hga finds itself in the of so many movements of the capital structure, reflective of the 250i78s. don't forget, they borrow at incredibly low rates not long ago, $1 billion, to pay a special dividend. you want to pay a special dividend prior to any tax increase on dividends as well. capital gains figuring into that debate, let's call it at this point that we've been detailing down in d.c. with our "mission critical" coverage. this morning, two of the own
but we're also waiting to see what happens in vienna with the opec meeting. in addition to the fed that comes out tomorrow. the expectation is, that opec will leave their current quota unchanged, around 30 million barrels per day. the actual production, around 31 million barrels a day. there may not be any change to that. the key will be what happens in terms of the election of a new secretary-general and saudi arabia in the running for that as well. back to you. >> thanks very much,...
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Dec 11, 2012
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opec ministers are in vienna. >> why vienna, by the way? >> i don't know why they originally set it there, but it seems like as good a place as any. have you been? >> i have not been. >> i don't think i've ever been to vienna. i always wondered about that. >> i mean, it's better than meeting in, i don't know, skokie, right? they're expected to retain its 28 million barrel a day output target. but the real drama is likely to be about leadership, the world's leading oil exporters are expected to argue about who should be opec's next secretary general and we have candidates from iran, iraq and saudi ara a arabia. they're all competing to replace the current leader, as you can see there. abdallah salem el badri, he's 72 years old and he's been there for years. i don't know where i've been for five years, but did you know -- >> i apologize in advance. i didn't. >> you could have said you did and we've been best friends, in fact. >> he's completely changed the entire operation. anyway, did a great job. >> in global market news this morning, stock
opec ministers are in vienna. >> why vienna, by the way? >> i don't know why they originally set it there, but it seems like as good a place as any. have you been? >> i have not been. >> i don't think i've ever been to vienna. i always wondered about that. >> i mean, it's better than meeting in, i don't know, skokie, right? they're expected to retain its 28 million barrel a day output target. but the real drama is likely to be about leadership, the world's leading...
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Dec 6, 2012
12/12
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there's a lot to look forward to, david, on this front with the opec meeting next week as well. back to you. >> thank you very much sharon epperson. >> we did want to note for the viewers, a fairly large hedge fund that was in the news for not good reasons. diamondback capital management, a fund run by richard shimmal and larry kipanzi. richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us founders, andrew chasen is on trial right now. diamondback went down to about $2 billion, but as of this morning, that is no long ter case. the hedge fund saying that given redemption requests came in about 26% of total asset ors $520 million. it would be left with $1.45 billion apparently that's just not enough to run the successful hedge fund. they did have 140 or so people working for them. not sure how much they have trended that. as of now, their seven-year track record at this point. but they have spending redemptions as you might expect. rushing all of the assets to fund holders. often times in th
there's a lot to look forward to, david, on this front with the opec meeting next week as well. back to you. >> thank you very much sharon epperson. >> we did want to note for the viewers, a fairly large hedge fund that was in the news for not good reasons. diamondback capital management, a fund run by richard shimmal and larry kipanzi. richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us...